Business Point Today

Sethurathnam Ravi (S Ravi) is the former Chairman of Bombay Stock Exchange Limited (BSE) and Founder and Managing Partner of Chartered Accountants’ firm Ravi Rajan & Co., an advisory and accountancy firm, headquartered in New Delhi, India. S. Ravi, former chairman of BSE and Founder of accountancy firm Ravi Rajan & Co, speaks about how the Indian economy and the major sectors of employment were impacted by the pandemic. The globe today is facing a pandemic situation and India has not remained untouched by its negative influence. In fact, as per the BSE Chairman Sethurathnam Ravi, India is the most disruptive considering the economic situation and human lives loss. Nearly every sector has been adversely affected during this period. The reason behind this adverse effect as per S. Ravi was the domestic demand and the supply or exports that sharply dropped with noteworthy exceptions. According to Sethurathnam Ravi BSE , an effort was also made for analysing the effect and the

In India, digital transactions were up by 33% to 7,422 crore transactions in FY 22 [till 28 Feb’22 ] with UPI contributing to Rs 452 crore transactions worth Rs 8.27 lakh crore. The country has also witnessed a proportional rise in all other digital payment forms like credit cards, online banking, mobile banking, QR etc. With growing digital payments, frauds are also on the rise. Around 80,000 frauds worth Rs 200 crore are committed to unauthorized QR or gaining confidence to install malware and making the customer use the unauthorized app. Read More : https://economictimes.indiatimes.com/small-biz/money/key-concerns-about-online-payments-and-ways-to-overcome-them/articleshow/91847946.cms

The US condemned Iran's seizing of two Greek-flagged oil tankers in the Arabian Gulf and demanded their release. State Department spokesman Ned Price called the move a “threat to maritime security”. US Secretary of State Antony Blinken and Greek Foreign Minister Nikos Dendias agreed that “ Iran must immediately release the seized vessels, their cargoes and their crews”, Mr Price said. “Iran's continued harassment of vessels and interference with navigational rights and freedoms are a threat to maritime security and the global economy,” he said. “The United States stands with Greece, our key Nato ally and partner in the face of this unjustified seizure.” Read More : https://www.thenationalnews.com/mena/iran/2022/05/31/us-demands-release-of-tankers-and-crew-seized-by-iran/

European Union leaders agreed on Monday to ban most imports of Russian oil to the 27-nation bloc as Ukrainian and Russian forces battled on the outskirts of Sievierodonetsk, the last city still held by Kyiv in Ukraine’s strategic Luhansk province. In the bloc’s toughest sanction on Moscow since the invasion of Ukraine three months ago, European Council President Charles Michel said the ban agreed at an EU summit in Brussels would immediately cover more than two-thirds of oil imports from Russia and cut a “huge source of financing for its war machine.” The leaders said they had agreed to cut 90 per cent of oil imports from Russia by the end of this year, with exemptions for Hungary - a landlocked country that relies heavily on crude piped from Russia - and others concerned about the ban’s economic impact. EU leaders also agreed to cut off the largest Russian bank, Sberbank, from the SWIFT system and to ban three more Russian state-owned broadcasters, Michel added. Read More : https://w

Borouge, the joint venture between Adnoc and Austrian chemicals producer Borealis, successfully closed its $2 billion initial public offering, the biggest share sale on the Abu Dhabi Securities Exchange that was about 42 times oversubscribed. The company had set the price per share for its 10 per cent float at Dh2.45, implying an equity value of about $20bn. It sold about three billion shares to the public, the company said in a statement on Tuesday. Upon settlement, the proceeds of the transactions will go to selling shareholders – Adnoc and Borealis Middle East Holding, a wholly owned subsidiary of Borealis. Total gross demand for the IPO that also attracted India's billionaire Adani family amounted to more than $83.4bn, Borouge said. Read More : https://www.thenationalnews.com/business/markets/2022/05/31/borouge-raises-2bn-in-42-times-oversubscribed-abu-dhabi-ipo/

The UAE and Israel signed a Comprehensive Economic Partnership Agreement (Cepa) on Tuesday in a move aimed at boosting non-oil trade and investment between the two countries. The trade and investment pact will push the value of non-oil bilateral trade beyond $10 billion within five years, Dr Thani Al Zeyoudi, the UAE’s Minister of State for Foreign Trade, said on Twitter. "With the #UAEIsraelCEPA signed, sealed and delivered, we have written a new chapter in the history of the Middle East," he said in a tweet . "Our agreement will accelerate growth, create jobs and lead to a new era of peace, stability, and prosperity across the region." The agreement comes after the UAE and Israel normalised relations in September 2020, which led to dozens of initial pacts in sectors ranging from aviation to technology. Israel and the UAE began negotiations for a trade and economic co-operation deal in November 2021, a couple of months after the Emirates launched similar discussion

 CBI sleuths investigating illegal appointments of teaching and non-teaching staff have seized several documents, files and at least nine hard disk drives from the sealed office of School Service Commission (SSC) here in the city, a senior official of the agency said on Monday. The documents will be examined and then verified with the versions presented by those interrogated in connection with the case, the official said. “Officials of central agency conducted searches at the SSC office during the weekend. They have collected several documents, files related to the appointments of people, and nine hard disk drives from the sealed rooms," he told PTI. “The documents will be examined and points jotted down, which will then be verified with the statements of people questioned as part of the investigation," he added. The CBI is probing into the irregularities detected in SSC appointments, in accordance with the directions of the Calcutta High Court. Bengal ministers Partha Chatte

My family did not travel much when I was a child but when we did, my parents jumped through hoops to cut costs. On a trip to Disney World, for example, our family of six switched hotels. Every night. My mother worked for a hotel chain and could enjoy one free night per property. Did my parents save money? Yes. Did it add to the mental burden of travelling with four children? Absolutely. As an adult now and planning a trip with my own child, I fully understand how expensive — and hard — it is to travel with children. Planning and packing requires accounting for naps, snacks, tantrums and blowouts. And you are budgeting for an extra airfare, a bigger rental car and additional lodging. Read More : https://www.thenationalnews.com/business/money/2022/05/31/how-to-save-money-when-travelling-with-children/

Nepali rescuers have retrieved the bodies of all 22 people on board a plane that crashed in the Himalayas, authorities said Tuesday. “All bodies have now been found,” Civil Aviation Authority spokesman Deo Chandra Lal Karn told AFP. “Processes will take place to identify the bodies.” Air traffic control lost contact with the Twin Otter plane operated by Nepali carrier Tara Air shortly after it took off from Pokhara in western Nepal on Sunday morning headed for Jomsom, a popular trekking destination. The wreckage was found a day later strewn across a mountainside at around 14,500 feet (4,420 metres). All but one of the bodies were later recovered. Four Indians and two Germans were onboard the twin-prop aircraft, along with 16 Nepalis. Read More : https://english.alarabiya.net/News/world/2022/05/31/All-22-bodies-retrieved-from-Nepal-plane-crash

Since the Columbine High School massacre more than 20 years ago, police have been trained to quickly confront shooters in the horrific attacks that have followed. But officers in Uvalde, Texas, took more than an hour to kill a shooter who massacred 19 children, a lapse of time that will likely be a key part of a Justice Department probe into the police response. The rare federal review comes amid growing, agonized questions and shifting information from police. Authorities now say that several officers entered the elementary school just two minutes after alleged gunman Salvador Ramos and exchanged fire with him, but he wasn’t stopped until a tactical team entered a classroom more than an hour later. That’s a confounding timeline for law enforcement experts like Jarrod Burguan, who was the police chief in San Bernardino, California, when the city was hit by a terrorist attack that killed 14 people in 2015. Officers entered that facility, a training center for residents with developmenta

Blackstone is seeking a tenfold increase of assets in its Asia-Pacific private credit business to tap a market with a growing appetite for such financing. The US alternative asset manager aims to expand its private credit assets to at least $5 billion in the “near term” from the $500 million committed as of the fourth quarter of last year, said Paulo Eapen, who heads the operations in Europe and Asia-Pacific. Blackstone Credit began investing actively in the region in 2021. While Asia makes up only a tiny fraction of the global private credit market, Blackstone is betting that demand will build as companies in the region increasingly look to diversify debt financing away from bank loans. “Asia’s nascent private debt markets are set to be on the rise given the accelerating growth in private equity activities,” Mr Eapen said in an interview. “There’s a tremendous opportunity for Blackstone Credit to contribute to the underserved Asian private debt market and address the rising financing

Gustavo de Arístegui  is a diplomat, ex-ambassador and writer, and he had the opportunity to express his opinions on the Russia – Ukraine conflict in Herrera at COPE. Gustavo de Arístegui clarified that the current situation is in a complex moment to manage. Russia’s attempts are quite clear today and it is that for the expert they seem aimed at “building a belt of friendly countries”, with the main objective of avoiding “instability”. According to the Spanish diplomat Gustavo de Arístegui, the constant conflict in Russia and Ukraine threatens the occupation of the Russian Federation if the Western countries do not respond. Gustavo de Arístegui thinks that European countries have been experiencing constant tranquillity in recent times, with a normal character for weeks now. The Russian Federation keeps a pulse on its past to try to avoid one of the greatest fears that its government has always had, the westernization of the countries that were part of Great Russia in times of yore.

Could Facebook have known about ominous direct-message threats made by a gunman who Texas authorities say massacred 19 children and two teachers at an elementary school? Could it have warned the authorities? Texas Gov. Greg Abbott revealed the online messages sent minutes before the Wednesday attack, although he called them posts, which are typically distributed to a wide audience. Facebook stepped in to note that the gunman sent one-to-one direct messages, not public posts, and that they weren’t discovered until “after the terrible tragedy.” The latest mass shootings in the US by active social-media users may bring more pressure on social media companies to heighten their scrutiny of online communications, even though conservative politicians — Abbott among them — are also pushing social platforms to relax their restrictions on some speech. Read More : https://www.khaleejtimes.com/americas/us-online-messages-sent-by-texas-shooter-discovered-after-the-terrible-tragedy

The Pakistani stock market jumped over 2% shortly after opening on Friday, reacting positively to an overnight decision by the government to end a months-old fuel price freeze. “The market is reacting to the government’s move to withdraw fuel subsidies. It shows the government’s resolve to address teething issues in the economy and will pave the way for the IMF program and other funding sources,” Saad Hashemy, executive director at BMA Capital Management, told Reuters. The International Monetary Fund (IMF) had expressed concern about the fuel subsidies. Read More : https://www.khaleejtimes.com/asia/pakistan-stock-market-jumps-over-2-after-government-ends-fuel-price-freeze

Norse Atlantic Airways has begun selling tickets for flights between London and New York as the budget carrier seeks to take market share on one of the world's busiest long-haul routes. Round-trip fares for journeys between London's Gatwick and John F Kennedy International Airport will start at £255 ($322), including taxes, the airline said. Daily flights on the route begin on August 12 using Boeing 787 Dreamliner aircraft. Norse Atlantic will offer a daily service, with other US destinations to be announced soon, the company said. The airline, which has its maiden flight scheduled for Oslo-New York on June 14, hopes to succeed where Norwegian Air failed, offering transatlantic flights at budget rates after securing cheap leases during the pandemic. Read More : https://www.thenationalnews.com/world/uk-news/2022/05/27/norse-atlantic-airways-offers-budget-flights-from-gatwick-to-new-york/

Alphabet Inc’s Google is in talks with the Indian government to integrate its shopping services with the country’s open e-commerce network ONDC, two sources familiar with the matter told Reuters. Late last month India soft-launched its Open Network for Digital Commerce (ONDC) as the government tries to end the dominance of US companies Amazon.com and Walmart in the fast-growing e-commerce market. The government estimates the Indian e-commerce market was worth more than $55 billion in gross merchandise value in 2021 and will grow to $350 billion by the end of this decade. ONDC’s chief executive, T. Koshy, told Reuters that Google was one among many companies it was in discussions over an association with the project. Read More : https://english.alarabiya.net/business/technology/2022/05/27/Google-in-talks-to-join-India-s-open-e-commerce-network-ONDC

Two senior US officials visited Saudi Arabia this week for talks on Iran, global energy supplies and regional issues, White House press secretary Karine Jean-Pierre said on Thursday. Coordinator for the Middle East and North Africa Brett McGurk and the State Department’s senior advisor for energy security Amos Hochstein met senior Saudi officials in Riyadh. “I will confirm that Brett McGurk and Amos Hochstein were in the region to follow up on conversations on a range of issues including Iran’s destabilizing activities, ensuring stable global energy supplies and other regional issues,” Jean-Pierre said at a press briefing. Read More : https://english.alarabiya.net/News/gulf/2022/05/27/Two-senior-US-officials-visited-Saudi-Arabia-for-talks-on-Iran-energy-White-House

Amber Heard told jurors Thursday that a harassment campaign waged against her by ex-husband Johnny Depp has left her humiliated and scared for her life from multiple death threats, and said she just wants “Johnny to leave me alone.” Heard was the final witness in the six-week libel trial Depp brought against his ex-wife. With cameras in the courtroom, millions of people have followed the trial, and interest seemed to gain momentum as the weeks went on and both Depp and Heard testified about the ugly details of their relationship. Read More : https://english.alarabiya.net/life-style/entertainment/2022/05/26/Amber-Heard-ends-testimony-asking-Johnny-Depp-to-leave-me-alone-

A GoFundMe campaign set up in the name of Irma Garcia, the fourth grade teacher killed during a mass shooting at a Texas primary school on Tuesday, has raised more than $1.77 million after renowned Twitter philanthropist Bill Pulte asked his 3.2 million followers to donate money to pay for funeral costs and help to financially support her family. The original goal of the GoFundMe campaign was to reach $30,000, according to a tweet by Ms Garcia’s nephew, John Martinez, who reached out to Mr Pulte to help the family reach their financial target, according to the Detroit Free Press newspaper. Ms Garcia, a mother of four children, was killed alongside co-teacher Eva Mireles and 19 of their students by teenage gunman Salvador Ramos at the Robb Elementary School in Uvalde, in one of the deadliest school shootings in the US in years. Read More : https://www.thenationalnews.com/business/money/2022/05/27/family-of-slain-uvalde-teacher-close-to-raising-2m-in-gofundme-campaign/

Toronto police shot and killed a man who was carrying a gun near several city schools on Thursday afternoon, officials said. The incident led to five nearby schools being placed under precautionary lockdowns. Officers responded to a report of an armed man in the area and fired after the gunman confronted them, Toronto police chief James Ramer said at a media briefing. He declined to give further details, citing a continuing investigation. Earlier on Twitter, Toronto police said officers had fired and the gunman, described as a male in his late teens or early 20s, was wounded. The scene where the man was shot by Toronto police is about 130 metres from the William G Davis Junior Public School, which was the last of the five schools to emerge from a lockdown. Read More : https://www.thenationalnews.com/world/the-americas/2022/05/27/toronto-police-kill-man-carrying-a-gun-near-schools/

Flour prices in the UAE have increased after India banned wheat exports on May 14 due to a jump in domestic prices after curtailed output amidst a scorching heat wave in the South Asian country. Local industry players said prices increased around 10-15 per cent this year due to the war in Ukraine and Russia, countries that are two of the world’s leading suppliers of wheat. Dr Dhananjay Datar, chairman and managing director of Al Adil Trading, said Ukraine and Russia were major exporters of wheat, but they are unable to export it due to the war. Read More : https://www.khaleejtimes.com/economy/uae-have-flour-prices-increased-after-indias-wheat-ban

UAE president Sheikh Mohamed bin Zayed Al Nahyan has sent a cable to Saudi Arabia’s King Salman bin Abdulaziz expressing his condolences and sincere sympathy over the death of the mother of Prince Fahd bin Dhaar bin Turki bin Abdulaziz al-Saud. Dubai ruler Sheikh Mohammed bin Rashid al-Maktoum, Sheikh Saud bin Rashid al-Mu'alla, Ruler of Umm Al Qaiwain, and Sheikh Saud bin Saqr al-Qasimi, Ruler of Ras Al Khaimah, have sent similar cables of condolences, state news agency WAM reported Thursday.

Rajeev Jhawar Usha Martin , Managing Director of Usha Martin Limited, expects that the domestic demand for Usha Martin’s products, particularly in the construction and auto sectors will start picking up after the monsoon season. According to Rajeev Jhawar, “The various measures announced by the Central government to boost the economy are likely to start yielding results post-monsoon”. There should be a pick-up in demand during the festival season post-September-October, by which time the company hope that the Covid situation would also be brought slightly under control. He also forecasts his views on the various stimulus measures taken by the government to enhance the growth of the economy. UML’s wire rope business manufactures wire, strands, LRPC and wire ropes, which cater to various industries, including steel, infrastructure, construction and auto. “The demand from construction, auto and oil sectors is down. Rajeev Jhawar also expects that additional infusion of government funds

Seven people died after a high-speed ferry caught fire in the Philippines on Monday, with another seven of the 134 people who were on board still missing, the coastguard said. The Mercraft 2 caught fire before reaching the port of Real in Quezon province, about 60 kilometres east of the capital, Manila, on the main island of Luzon. It left Polillo Island at 5am and made a distress call at 6.30am. Five women and two men died, while 120 passengers were rescued. Twenty-three people, including the captain, were treated for injuries, the coastguard said. The fire appears to have started in the engine room, Philippine coastguard spokesman Cdre Armando Balilo said. Pictures shared by the coastguard showed people in life vests floating at sea awaiting rescue as fire and thick smoke engulfed the ferry. The two-storey passenger boat had a 186-person capacity. Read More : https://www.thenationalnews.com/world/asia/2022/05/23/philippine-ferry-fire-claims-at-least-seven-lives/

Many of us might have come across the terms “hustling” or “hustle culture”. Hustle culture refers to immersing yourself so much in your work and getting more things done that you barely have time to do anything else. In fact, hustling is celebrated on social media, especially among millennials. It is linked to productivity and is considered an important ingredient in the formula of success. As a former hustler, I can confidently say that only when I worked smarter, and not harder, was I able to achieve my business targets. But hustling and the constant grind can seriously hinder your success. In the early days of my entrepreneurship journey, I dedicated long hours to the business. It didn’t bother me that I slept less, or that I didn’t have any time for my social life. I genuinely believed that to succeed, I should work as much as I could. As a result, I struggled to keep my health in check and I felt sick more often. If I wasn’t putting in as many hours as possible into work, I felt g

Britain's Queen Elizabeth II has met leaders from every continent during her 70 years on the throne. As head of state, she welcomes them to the UK and meets them when touring around the world. From rulers, including UAE Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan, and Jordan’s King Abdullah II, to presidents and prime ministers, she has been there to receive them. The queen has met leaders of the UK’s closest allies and some of its critics. Sometimes a world leader is honoured with a state dinner, often it is a handshake and a chat but, for the UK, she is a vital cog in its soft power diplomacy. The queen is the head of state of the UK and 14 other countries — Antigua and Barbuda, Australia, the Bahamas, Belize, Canada, Grenada, Jamaica, New Zealand, Papua New Guinea, Solomon Islands, St Kitts and Nevis, St Lucia, St Vincent and the Grenadines, and Tuvalu. Read More : https://www.thenationalnews.com/world/uk-news/2022/05/23/platinum-jubilee-when-queen-elizabeth-met

After the Covid-19 pandemic caused lockdowns around the world in March 2020, hiring froze and so effectively did the livelihood of Egyptian jobs site Shaghalni. But the blue and grey-collar recruitment company, founded in 2016, came back stronger than ever in 2021. It now faces another crisis due to the economic fallout of the Russia-Ukraine war. With funding limited to $400,000 from just two investors — billionaire businessman Naguib Sawiris and Egyptian venture capital company 138 Pyramids — the start-up is focusing on profitability and sustainability for the bumpy road ahead. “We just need to be wiser with our spending,” says Shaghalni founder and chief executive Omar Khalifa. "But at the same time, I don’t think anything is going to be worse than Covid." Today Shaghalni, which means "hire me" in Arabic, has a database of more than 1.7 million jobseekers and more than 10,000 registered companies. The site charges employers a subscription fee to advertise their jo

A decade might have passed after the infamous Satyam Computer scam and subsequent regulatory actions but Tech Mahindra chief C P Gurnani feels systems still take a long time to detect discrepancies at corporates and better data analytics are needed to plug the loopholes. Satyam Computer Services was hit by an accounting scam perpetrated by its founder B Ramalinga Raju that came to light in January 2009 and the once storied company was later acquired by Tech Mahindra in April the same year. In an interview to PTI, Gurnani said that even after ten years of Satyam Computer scam, "our systems still take a long time to get alerted to discrepancies which may lead to crisis situations". "All stakeholders, including banks, lending agencies and companies, need to be more responsible. We need to incorporate better data analytics and dashboards to capture loopholes and avoid crisis like Satyam or IL&FS. I think we all are wiser but we need to have better processes and systems i

Hazel McCallion, 101, was recently reappointed to the board of Canada’s largest airport as she forges ahead with a career that has included being a city mayor for 36 years and playing professional hockey. Her tenacity earned her the nickname “Hurricane Hazel.” “I don’t know how it came about (that) they call me ‘Hurricane Hazel,’” she said in an interview with AFP at a Mississauga, Ontario exhibit celebrating her life, adding with a boisterous laugh: “I know I move quickly.” And nothing seems to stop her. Throughout her long life, she says she followed the mantra: work hard and be prepared. “Hard work never killed anybody, my mother told me that,” she said. “If you want to go anywhere you have to work hard.” Born in 1921, in Port Daniel, Quebec, Hazel is the youngest of five children. Her father worked in the fishing industry while her mother was a nurse. She left the family farm at age 16 to continue her education, before taking up secretarial work during the Second World War at a Mon

  Amazon is testing a service that uses the company’s sprawling network of gig drivers to fetch packages from mall-based retailers and deliver them to customers. The programme, should it become a permanent part of the e-commerce company's delivery options, could help Amazon expand the variety of goods it has available for fast shipment. Shoppers who want same-day or quicker shipping could be shown products stocked by a local mall store. They order the item from the retailer on Amazon.com and one of the Seattle-based company’s contract drivers delivers it. The service was up and running by last year and relies on Amazon Flex drivers, who use their own vehicles to deliver packages. The geographic range of the pilot is unclear, but communications with drivers reviewed by Bloomberg reference malls with participating retailers in Chandler, Arizona, Las Vegas, Nevada, and Tysons Corner, Virginia. Read More : https://www.thenationalnews.com/business/technology/2022/05/21/amazon-taps-its

Russia on Saturday halted providing natural gas to neighboring Finland, which has angered Moscow by applying for NATO membership, after the Nordic country refused to pay supplier Gazprom in rubles. Natural gas accounts for about eight percent of Finland’s energy consumption and most of it comes from Russia. Following Russia’s February 24 invasion of Ukraine, Moscow has asked clients from “unfriendly countries” — including EU member states — pay for gas in rubles, a way to sidestep Western financial sanctions against its central bank. Finnish state-owned energy company Gasum said it would make up for the shortfall from other sources through the Balticconnector pipeline, which connects Finland to Estonia, and assured that filling stations would run normally. “Natural gas supplies to Finland under Gasum’s supply contract have been cut off,” the company said in a statement. Gasum said Friday that it had been informed by Gazprom Export, the exporting arm of Russian gas giant Gazprom, that t

An international task force under UN protection should be used to gain access to Ukraine's grain stores and prevent a global food crisis as the conflict with Russia grinds on. To prevent escalating food prices “becoming the trigger for social unrest in multiple locations”, a humanitarian food corridor should be created in the Black Sea using “military means”, said a report from the Stockholm International Peace Research Institute (SIPRI) titled “International Action to Relieve Food Security Crisis”. Ukraine’s former economic minister welcomed the proposal, as “a really scary scenario was brewing”, with his country only currently able to export a fifth of its grain. The steep rise in both food and fuel prices is increasing the risk of social unrest turning into violent upheaval. “Finding solutions to global food insecurity has moved from being a humanitarian crisis to become an international security imperative,” the SIPRI paper said. Read More : https://www.thenationalnews.com/worl

A fun-filled agenda awaits children at the Jeddah Pier amusement park, one of the entertainment attractions at this year’s Jeddah Season festival of activities. The specially created Little Village large play area offers games and events for youngsters through to June 28 in three activity zones featuring children’s characters Peppa Pig, Blippi, and L.O.L Surprise! The Blippi-branded activity corner allows kids to learn and explore new concepts, and the iconic Blippi appeared for a soft opening of the Little Village during which visitors took part in a meet and greet, followed by a photo session. The L.O.L Surprise! activity corner gives girls the opportunity to wear their favorite dresses, enjoy hair and makeup sessions, and try out cooking, singing, and dancing, and special fashion shows let little fashionistas take a ramp walk. Meanwhile, the Peppa Pig activity corner has a range of activities including painting classes and the chance to play in the cartoon character’s grocery store.

Usha Martin is a leading manufacturing company known for making a wide range of wire rope products, which have applications across the world. The ropes manufactured by Usha Martin serve in some of the most critical applications across diversified industrial segments, which include oil & offshore, cranes, mining, elevators, aerials, fishing, conveyor belts and general engineering. Rajeev Jhawar Usha Martin is the Managing Director at Usha Martin Limited. He is the son of Brij Kishore Jhawar. Rajeev Jhawar is also the Director of Neutral Publishing House Ltd. Rajeev Jhawar has been the guiding light of Usha Martin since its early days. Basant Kumar Jhawar, his brother Brij Kishore Jhawar and his son Prasant Jhawar along with the company's MD and his Nephew Rajeev Jhawar, took the company to great heights. While the family jointly held 51% of the stake, the rest of the retailers held only 49% of the stake. The two factions, both promoters of the wire and wire rope maker, had

Mounted troops from the Middle East were at the forefront of a star-studded equestrian show celebrating Queen Elizabeth II's platinum jubilee. The British monarch was honoured with a standing ovation at the Royal Windsor Horse Show on Sunday. The queen, who is marking 70 years on the British throne, applauded as The Royal Cavalry Oman performed an expert display of horsemanship. Those at the open-air arena near Windsor Castle were treated to a traditional display, including a group of horses who laid down midway through the performance in an impressive move alongside their trainers. The Bahrain Defence Force and the Royal Canadian Mounted Police escorted the queen from the arena back to Windsor Castle after the show. King Hamad of Bahrain had been personally invited to the event by the queen but was unable to attend after the death of the UAE's President Sheikh Khalifa on Friday. Tom Cruise and Dame Helen Mirren led the cast of entertainers who appeared in the first major event

GUWAHATI: After the ropeway accident in Jharkhand in which three persons died, the Guwahati Metropolitan Development Authority (GMDA ) has emphasised on regular maintenance of the ropeway service over the Brahmaputra in Guwahati so that there is no possibility of any such incident here. GMDA chief executive officer Kausar Jamil Hilaly told TOI, “The question of safety in Guwahati’s ropeway service after the Jharkhand incident is relevant. The ropeway over the Brahmaputra is very safe. Emphasis is being given on regular maintenance. The team concerned does maintenance work twice a day. Moreover, maintenance is also done by expert teams from outside the state twice a month. We also keep the ropeway service closed for 10 days in March every year for yearly maintenance. Usha Breco Limited is currently operating the ropeway service here in Guwahati after the Damodar Ropeways and Infra Limited completed its tendered period. Usha Breco Limited took over in March. Hilaly said the operating

Buffalo residents held vigils on Sunday after the deadly shooting at a supermarket by a gunman in a “racist” rampage resulted in 10 dead. The suspected gunman, identified as Payton Gendron, was arraigned late Saturday on a single count of first-degree murder and held without bail, the Erie County district attorney's office said. He pleaded not guilty. “The evidence that we have uncovered so far makes no mistake that this is an absolute racist hate crime,” Buffalo police commissioner, Joseph Gramaglia, said. Mr Gramaglia told reporters the 18-year-old suspect did “reconnaissance” on the predominantly black area surrounding Tops Friendly Market and drove there from his home town of Conklin, more than 200 miles away. United Nations chief Antonio Guterres sharply condemned the shooting deaths of 10 people at a grocery store in New York State, his spokesman said on Sunday. “The Secretary General was appalled by the killing of 10 people in a vile act of racist violent extremism in Buffal

Mali on Sunday announced that it will quit the multinational military force in West Africa's sub-Sahara region, after it was blocked from assuming the presidency of the group. The country's military government blamed a lack of progress in the fight against the Islamists and the failure to hold recent meetings in Mali. “The government of Mali is deciding to withdraw from all the organs and bodies of the G5 Sahel Force," including the joint force fighting the extremists, Bamako announced. “The opposition of some G5 Sahel member states to Mali's presidency is linked to manoeuvres by a state outside the region aiming desperately to isolate Mali,” it added, without naming the country. The G5 Sahel force, which includes troops from Niger, Chad, Burkina Faso and Mauritania, was set up in 2017 to counter Islamist extremists who have swept across the region in recent years, killing thousands of people and forcing millions to flee their homes. Read More : https://www.thenationa

Two of the Saudi-listed major insurers have reported losses in the first quarter of 2022, driven by higher claims, revealed their earning announcements on Monday.  The Co. for Cooperative Insurance, also known as Tawuinya, saw its first-quarter profit drop by 49 percent to SR41 million ($11 million) from SR80.81 million the same period in 2021, while Al-Etihad Cooperative Insurance Co. profit plunged 95 percent to SR689,910 in the first quarter compared to SR14.55 million in the first quarter of 2021, according to their bourse filings.  Although both companies attributed the drop in their bottom lines to an increase in claims, Tawuinya added that a decrease in earnings from policyholders and shareholders also a major factor.

Since it was first produced in 1976, the Ford Fiesta has regularly topped bestseller charts because of its affordability, availability and reliability. Yet, in an extraordinary twist, an automotive expert has told The National the previously ubiquitous model now comes with a 12-month wait in the UK. Unsurprisingly, it is now nowhere near the UK top sellers list for 2022 to date. It's a far cry from the slogan of mass production pioneer Henry Ford, who promised buyers any car they wanted (as long as it was black). "The longest lead times are now on the cheapest cars," said Steve Young, managing director of the International Car Distribution Programme. Ford is not the only manufacturer whose forecourts are no longer crowded. Giant lots with rows of cars awaiting a willing buyer are a thing of the past. Motorists expecting to walk into any showroom and leave with a new car are likely to be sorely disappointed. This remarkable situation doesn't have a single root cause.

India's two richest men are going head-to-head. Only this time, they are competing for a share of the country's fast-growing video on-demand and streaming market, pitting themselves against Netflix and Amazon. Last month, conglomerate Reliance Industries' Viacom18 Media — controlled by Mukesh Ambani — formed a joint venture with James Murdoch's Bodhi Tree Systems to form one of the largest TV and digital streaming companies in India. At the same time, Gautam Adani, who overtook Mr Ambani as India's richest man this year, and has an estimated net worth of $123.7 billion, announced his entry into India's media sector by establishment of a subsidiary that would focus on areas including “broadcasting, distributing of content over different types of media networks”. “With a strong push into both broadcasting and digital media, Reliance Industries is doubling down on the media business,” says Kshitij Purohit, an analyst at Finofy, an investment advisory company. “Adan

For those in cryptocurrency and stock markets who have been feeling some pain, the Robin Hood Foundation benefit event held last Monday offered a few hours of respite. And the chance at a real picker-upper: a rocket to space. Ken Griffin, the billionaire founder of hedge fund Citadel, made the winning $8 million bid in absentia, but does not plan to take the flight. Instead, he is giving his seat on Jeff Bezos’s Blue Origin New Shepard rocket to a New York City public school teacher, who will join another educator already scheduled to be on-board. “I hope this moment will ignite the imagination of our students and inspire the next generation to push the boundaries of what humanity can achieve, while underscoring the extraordinary role our teachers play in the lives of our children,” said Mr Griffin, who has a net worth of $29.5 billion and is the 39th-richest person in the world, according to the Bloomberg Billionaires Index. Citadel's chief technology officer Umesh Subramanian mad